Most Popular
-
1
Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
-
2
Army takes group action against Hybe for neglecting BTS
-
3
Debate rages over ‘overly fatty’ samgyeopsal
-
4
[Weekender] Korean psyche untangled: Musok
-
5
Naver will consider company benefits in deciding on selling Line shares: CEO
-
6
Hankook Tire takes over control of Hanon Systems
-
7
[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
-
8
S. Korea, Japan, China agree to create new financing facility against regional crises
-
9
From fake prostitution ring to nonexistent robber, prank calls hamper police
-
10
Top prosecutor orders speedy investigation into first lady's alleged acceptance of luxury handbag
-
KFS at vanguard of low-carbon green growth
Forest agency expands scope of cooperation to Latin AmericaThe Korea Forest Service leads the vanguard of the nation’s push for lowering carbon emissions and developing green industries.The KFS, in charge of forest policies, has promoted the policy of low carbon emission and green growth on the basis of its “Fifth National Forest Plan.”The 10-year plan, which was implemented in 2008, is designed to further expand the implementation of sustainable forest management in pursuit of maximizing fores
Sept. 11, 2012
-
Apple’s secret message about the iPhone 5
Apple fans have found potential clues about the new iPhone 5 just days before its launch, according to news sources. Apple’s PR team started setting up in San Francisco’s Yerba Buena center, the site for the grand launch, over the weekend. On Wednesday, CEO Tim Cook will release the product to the public. Although Apple is famous for keeping silent about their new products, eagle-eyed Apple fans seem to have found a clue in the banner outside the building. Some very eager fans played with the sh
TechnologySept. 11, 2012
-
Hollister models’ racist antics in Korea lead to termination
Models of U.S. brand Hollister who allegedly mocked Asians in online photographs were fired, the Daily Mail and other news sources reported on Monday. Hollister recently announced on its homepage that it dismissed the models who uploaded the offensive photos online, and issued a statement of apology.“On behalf of our more than 80,000 associates around the world who cherish our core values and our culture of diversity and inclusion, we sincerely apologize for the offense caused by these unauthori
IndustrySept. 11, 2012
-
Costco Wholesale Korea under fire for doing business on Sunday
The South Korean unit of U.S. retail giant Costco Wholesale Corp. has resumed operations on Sunday at its outlets across the country, a move that local industry officials claim violates Seoul‘s policy of restricting the business of large retailers.Local authorities in South Korea have prohibited large retailers from doing business on the second and fourth Sunday of every month to help protect mom-and-pop stores.South Korea’s largest retailer E-Mart and other retail chains later won injunctions i
IndustrySept. 11, 2012
-
Government plans W5.9tr stimulus measures
The government announced on Monday a stimulus package worth 5.9 trillion won ($5.23 billion) to boost lackluster domestic consumption and exports by the protracted eurozone debt crisis and a slowdown in China. The Finance Ministry said it would allocate 4.6 trillion won for this year and 1.3 trillion won for next year in its fiscal support measures.The economic support will be made mainly in the form of tax cuts to recharge sagging domestic demand, ministry officials said.The package was arrange
Sept. 10, 2012
-
3rd Korean bullet train sets new speed record
Korea’s new high-speed train HEMU-430X has recorded a speed of 354.64 kilometers per hour, the highest-ever demonstrated by trains here. The Ministry of Land, Transport and Maritime Affairs said Monday that the new record speed was set in a test carried out on Sunday at the 120-kilometer section between Busan and Daegu. The previous record was 352.4 kilometers per hour set by the French high-speed KTX back in December 2004. The ministry said Korea has now taken one step closer to connecting the
IndustrySept. 10, 2012
-
FTAs drive up wine imports from U.S., Europe
Korea’s imports of wines from the United States and Europe surged on free trade deals with the two major economies despite an economic slump here, industry data showed Monday.According to the data by the Korea Wines & Spirits Importers Association, imports of American wines during the January-July period rose 19.4 percent from a year earlier to $8.63 million.Wine imports from Spain and Germany jumped 19.7 percent and 19.9 percent, respectively, on-year over the same period, while the amount of i
Sept. 10, 2012
-
Korea’s producer prices rebound in Aug.
Korea’s producer prices rebounded in August from the previous month as oil costs and agricultural product prices increased, the central bank said Monday.The producer price index, a barometer of future consumer inflation, rose 0.3 percent last month from a year earlier, compared with a 0.1 percent on-year fall in July, according to the Bank of Korea. July marked the first month in nearly three years that producer prices dropped on-year.Compared with the previous month, the index climbed 0.7 perce
Sept. 10, 2012
-
Shares slip 0.25% ahead of U.S. stimulus package
Korean stocks edged down 0.25 percent Monday as investors sat on the sidelines before the envisioned U.S. central bank’s stimulus packages, analysts said.The local currency climbed against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 4.88 points to 1,924.7, ending a two-session rally sparked by the European Central Bank’s bond-purchasing plan last week. Trading volume was heavy at 608.9 million shares worth 4.28 trillion won ($3.79 billion), with losers outnumbering winne
Sept. 10, 2012
-
Big firms still favor former officials as outside directors
Affiliates of Korea’s top 10 conglomerates still prefer former government officials and ex-policymakers as outside directors, data showed Monday, amid escalating criticism of their practice.A total of 330 people served as outside directors at the 93 affiliates of the leading conglomerates as of end-June this year, down from 337 a year earlier, according to the data compiled by local research firm Chaebul.com. Of the 77 outside directors newly hired, 29, or 37.7 percent, were former government of
Sept. 10, 2012
-
SPC Group investigated by FTC
The nation’s antitrust watchdog is considering imposing sanctions against SPC Group, a leading franchise conglomerate that operates bakery chain Paris Croissant and Paris Baguette, for enforcing unfair contract conditions on store owners. The Fair Trade Commission said Monday it has found some 300 Paris Croissant store owners out of the total 3,200 nationwide have been forced to carry out refurbishments every year. For those who cannot afford the cost for expansion or refurbishment, the head off
IndustrySept. 10, 2012
-
POSCO, Hyundai Group begin work on logistics park in China
HONG KONG (Yonhap News) ― South Korea’s leading steelmaker POSCO and Hyundai Group, known for its business ties with North Korea, broke ground Monday on a logistics park in northeastern China, company officials said. The two South Korean firms started construction of the 1.5-square-kilometer distribution center in the city of Hunchun, located in China’s northeastern Yanbian Korean Autonomous Prefecture. The distribution center, expected to have a capacity of 13 million tons by 2020, will handle
Sept. 10, 2012
-
NHN Line becomes No.1 mobile messenger
NHN’s Line has overtaken its close peer Kakao Talk to become the world’s most used mobile messenger.NHN, the operator of Korea’s largest search engine Naver, said Monday that the number of Line users worldwide surpassed 60 million as of Sept. 8.Kakao Talk had 59 million as of Sept. 7.Market watchers say the two sides will have a neck-and-neck competition as Kakao will soon have over 60 million users as it strengthens its overseas operations.NHN has been focusing on marketing Line mostly in Japan
TechnologySept. 10, 2012
-
Hyundai’s hydrogen cars gain popularity in Europe
Hyundai Motor’s futuristic technology in the hydrogen fuel cell vehicle sector has highly been acknowledged in more and more European countries.Following its recent advancement into Scandinavian countries, Hyundai Motor has been picked as a business partner for German environmental organizations’ hydrogen automobile project.As the initial supply for the project, the Korean carmaker is poised to provide the country with dozens of the hydrogen fuel cell Tucson ix, a sport utility vehicle, in the c
IndustrySept. 10, 2012
-
ITU plans roundtable on global patent litigation
Samsung vs. Apple patent litigation to become topic of discussionThe International Telecommunication Union said Monday it plans to hold a roundtable session on patent litigation next month to include discourse on the ongoing dispute staged between Samsung Electronics and Apple Inc.“(Patent litigation) is a worrisome trend for us and we’d like this issue to become a discussion so that we can give a set of recommendations,” said Hamadoun Toure, secretary-general of the ITU, during a press conferen
IndustrySept. 10, 2012
-
Foreign IBs downgrade 2012 outlook for Korea
Major foreign investment banks cut their forecast of Korean economic growth to the mid-2 percent range for this year on faltering exports, a report showed Monday.Ten foreign investment banks forecast the Korean economy to grow an average 2.6 percent this year, lower than their previous estimate of 2.9 percent made in July, according to a report by the Korea Center for International Finance.Their forecast stood in contrast with the central Bank of Korea’s 3 percent growth estimate and the governm
Sept. 10, 2012
-
Foreign firms’ hiring to drop by 50% in H2
Foreign companies in Korea are expected to hire only half the number of new university-graduates in the second half of this year compared to the same period last year, data showed.Of 72 firms recently surveyed by online job search portal Job Korea, about 20 foreign companies, or 27.8 percent, said that they plan to hire university graduates. Among the rest, 63.9 percent answered that they have no plans of new employment and 8.3 percent said it is not decided yet. In the same survey conducted ear
IndustrySept. 10, 2012
-
Boost from foreign investment comes with risks
Renault Samsung accepts voluntary retirement from 14% of workersRestructuring and downsizing are sweeping the foreign business community in Korea following lackluster sales amid the global economic slowdown stemming from the financial crisis in Europe.Korean equities continue to receive increasing attention from foreigners whose large investment, could lead to further volatility in the stock market when the global economy faces another tumble.These market trends show an overall picture of the li
Sept. 10, 2012
-
Creditors to pour W200b into Ssangyong E&C
Ssangyong Engineering and Construction said Monday that its largest shareholder Korea Asset Management Corp. and other creditor banks have agreed to inject 200 billion won ($180 million) to support the troubled builder. A risk management committee at KAMCO recently approved a liquidity support plan, with the first batch of support worth 70 billion won expected to be made on Tuesday. Ssangyong offi
IndustrySept. 10, 2012
-
Violent games can ease pain: study
People may develop a higher tolerance toward pain by playing video games that involve players shooting and killing enemies, British scientists claimed on Friday.According to research by Keele University, playing “first-person shooter” games enabled players to endure pain for 65 percent longer than those who played a non-violent golf game.The 40 participants of the study were asked to play both the violent and non-violent games for 10 minutes and then to place a hand in ice-cold water to test pa
TechnologySept. 10, 2012